Gasoline

Gasoline Increases to $1.96 Per Gallon

March 14, 2016
• by Staff

Photo via Wikimedia.

The national average price of a gallon of unleaded increased 12 cents to $1.961 per gallon for the week ending March 14, which marked the second consecutive weekly increase, according to federal records.

The nation's average gasoline price is now 49.2 cents lower than it was a year ago, as it fell in nine regions tracked by the U.S. Department of Energy. Most regions saw double-digit increases with the West Coast increasing 15 cents to $2.394, and the Gulf Coast increasing 14.3 cents to $1.746.

Eleven states now have gasoline costing at least $2 per gallon, according to AAA's Daily Fuel Gauge Report. California's $2.593 is the highest in the nation, while New Jersey's $1.694 is the lowest.

Meanwhile, the average price of a gallon of diesel fuel increased 7.8 cents to $2.099 per gallon. Diesel is now 81.8 cents lower than it was a year ago.

The average fuel economy of new vehicles sold in the U.S. in December fell to 25 mpg — down 0.2 mpg from a revised November value, according to Brandon Schoettle and Michael Sivak, researchers from the University of Michigan's Transportation Research Institute (UMTRI).

The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.

China is setting a deadline for automakers to end the sale of fossil-fuel powered vehicles as the country looks to reduce oil consumption and pollution and push for the development of electric vehicles. Regulators are working on a timetable for the ban.

The average national price of gasoline remained at $2.29 per gallon for the week ending March 27 amid discussion by the Organization of the Petroleum Exporting Countries (OPEC) to extend a production cut by another six months.